Times Network to launch 'Property Now'
By: Creative Brands Bureau | Mumbai Dated: September 15, 2015
Times Network, the broadcast arm of India’s largest media house Bennett Coleman & Co. Ltd. has announced the launch of India’s first 24X7 property news channel, ‘Property Now’. The announcement came in at the inaugural session of FICCI’s ‘The Big 5 Construct India 2015’ held in Mumbai.
On the idea behind this initiative, M. K. Anand, MD & CEO, Times Network, explained that,"60 percent of consumers' investments are locked up in real estate, and a large part of our population is employed, and interested in this sector. The stock market is five to ten percent of investments, and while it has four TV channels and three major newspapers based on it, the real estate sector does not have much representation. It may be counter intuitive both as a category for television, and in the timing, but that's why I think it will work. If we do the right thing, this will open up a new category in television."
On advertising revenues, Anand reasons that, "Real estate is a Rs 3000 cr advertising market, that's mainly dominated by print, the latter's natural target group being ideal for this segment- largely English reading SEC AB 25+. But the campaign focus in our network is as effective as print, due to our focussed English audience."
Distributed pan-India, the channel will be targeting the 1mn+ markets initially. Anand adds that they will aim for ET Now's penetration, but believes this brand could eventually do better than most news channels due to the interest seen in this sphere.
The new channel will be a destination for content and information on the property market; it will be helmed by Faye D’Souza who is also the editor of personal finance & real estate at ET Now. Arnab Goswami, President of News at Times Network will also guide ‘Property Now’ and lead the editorial team.